Scratch, the decentralized finance company, has completed its Simple Agreement for Future Tokens (SAFT) allowing investors to be stakeholders in its non-fungible token (NFT) financial services with the limited launch of the Scratch Token.
SAN JUAN, Puerto Rico, March 23, 2022 /PRNewswire/ — Scratch — the NFT research, assessment, and loan company — is officially launching the Scratch Token for the Scratch Platform: an NFT industry-first designed to standardize the market value of NFTs by leveraging multiple public tools and data sets.
This valuation is backed by offering investors the opportunity to take out loans with their NFTs as collateral. The Scratch Token allows investors to be stakeholders in the platform.
This Scratch Token limited launch — presently only available via Uniswap until Regulation A approval with the U.S. Securities and Exchange Commission (SEC) is achieved — coincides with the completion of Scratch Platform’s first security audit by the leading security platform in blockchain and decentralized finance (DeFi), Certik.
“It’s clear with record months in 2022 on NFT valuations — even outperforming cryptocurrencies — that the NFT industry is getting taken seriously all over the world,” says Shawn Owens, Co-founder of Scratch. “It’s amazing to see that people are realizing it can be a fun technology, but that it’s also serious and life-changing for the artists and communities that are so passionate about NFTs.”
“Currently, it’s difficult for anyone to valuate NFTs at scale. But with Scratch Platform’s future product development releases, it’s possible and can unlock new financial applications for NFTs. Scratch Token — starting today with a limited launch — will help power those applications,” Owens elaborates.
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